Is Money a Motivator ?
Is Money a Motivator?
There are countless articles circulating today instructing managers on how to motivate their employees. Some theories state that all workers are motivated primarily by the need for money; so if you want to get the most out of your workforce, you pay them more. So, is money a motivator?
Motivation is the encouragement to do something.(1) There are short term motivators and there are long term motivators. There are also different levels and sides to motivation. In this article I would like to focus on three theories in particular which discuss motivational needs for an individual and how as a manager you can address them in the work place: The first is Maslow’s need hierarchy which led to McGregor’s Theory X and Theory Y and the last theory is Herzberg’s Motivation – Hygiene Theory.
Maslow’s Hierarchy of Needs consists of five levels of needs to be satisfied. This model suggests that as people satisfy needs on one level, they progress to the next level of needs as motivation for their behavior. It is only the unsatisfied needs which can influence behavior, not the satisfied needs. (1)
Under Maslow’s Hierarchy money would be recognized within the safety category (or a base need for behavior). When you have money you feel secure, because you have a resource you need to survive. According to Maslow once that need is fulfilled you move to the next level for motivation. (1) In this case money itself is no longer a motivator because that need has been satisfied.
As a manager, you can use this knowledge to continue to motivate your employees. If they are already satisfied with money, in that it is no longer a primary need, you should move up the pyramid. Work to build the employee’s confidence, respect them, and give the individual projects that drive him/her to satisfy the higher level needs.
Douglas McGregor took the work Maslow did with the hierarchy of needs and grouped it into two theories on how people view human
There are countless articles circulating today instructing managers on how to motivate their employees. Some theories state that all workers are motivated primarily by the need for money; so if you want to get the most out of your workforce, you pay them more. So, is money a motivator?
Motivation is the encouragement to do something.(1) There are short term motivators and there are long term motivators. There are also different levels and sides to motivation. In this article I would like to focus on three theories in particular which discuss motivational needs for an individual and how as a manager you can address them in the work place: The first is Maslow’s need hierarchy which led to McGregor’s Theory X and Theory Y and the last theory is Herzberg’s Motivation – Hygiene Theory.
Maslow’s Hierarchy of Needs consists of five levels of needs to be satisfied. This model suggests that as people satisfy needs on one level, they progress to the next level of needs as motivation for their behavior. It is only the unsatisfied needs which can influence behavior, not the satisfied needs. (1)
Under Maslow’s Hierarchy money would be recognized within the safety category (or a base need for behavior). When you have money you feel secure, because you have a resource you need to survive. According to Maslow once that need is fulfilled you move to the next level for motivation. (1) In this case money itself is no longer a motivator because that need has been satisfied.
As a manager, you can use this knowledge to continue to motivate your employees. If they are already satisfied with money, in that it is no longer a primary need, you should move up the pyramid. Work to build the employee’s confidence, respect them, and give the individual projects that drive him/her to satisfy the higher level needs.
Douglas McGregor took the work Maslow did with the hierarchy of needs and grouped it into two theories on how people view human